Press Release on the issuance of Circular No.01/2018/TT-NHNN
January 26, 2018 – The Governor of the State Bank of Vietnam (SBV) issued Circular No. 01/2018/TT-NHNN stipulating the provision of special loans to specially-controlled credit institutions.
The newly issued Circular stipulates specific regulations on the provision of special loans to specially-controlled credit institutions in compliance with Paragraph 3 of Article 146d of the Law amending and supplementing a numberof articles of the Law on Credit Institutions. The Circular consists of 03 Chapters with 25 Articles stipulating the provision of special loans by the SBV, the Cooperative Bank of Vietnam, the Deposit Insurance of Vietnam, and other credit institutions to the specially-controlled credit institutions, regarding the cases when the SBV, the Cooperative Bank of Vietnam, the Deposit Insurance of Vietnam, and other credit institutions provide special loans, the amount of loans, the maturities, the lending interest rates, the purposes and the extension of the special loans. At the same time, the Circular also stipulates the orders of considering and deciding on providing special loans by the SBV, the Cooperative Bank of Vietnam, the Deposit Insurance of Vietnam, and other credit institutions to the specially-controlled credit institutions, as well as the responsibilities of the relevant entities.
The Circular took effect from January 29, 2018.
Translated by Le Hang